What is additional tax in SAP (FI - Financial Accounting)?

SAP Term: additional tax

• Component: FI

• Component Name: Financial Accounting

• Description: A tax posted in addition to tax on sales or purchases. This may be investment tax, clearing tax or tax postings necessary under the postponed accounting system used in the Benelux countries.

Smart SAP Assistant

• Key Concepts: 
  Additional tax is a type of tax that is added to the base tax rate. It is used to increase the amount of taxes collected from taxpayers. This type of tax is usually imposed on certain goods or services, such as luxury items or tobacco products. In SAP Financial Accounting (FI), additional tax is used to calculate the total amount of taxes due on a transaction. 
  
  How to use it: 
  In SAP FI, additional tax can be set up in the Tax Code field in the customer master data. This will allow the system to automatically calculate the additional tax when a transaction is posted. The additional tax rate can also be manually entered in the Tax Code field when creating a new transaction. 
  
  Tips & Tricks: 
  When setting up additional tax in SAP FI, it is important to ensure that the correct rate is entered in the Tax Code field. This will ensure that the correct amount of taxes are calculated and paid. Additionally, it is important to keep track of any changes in the additional tax rate, as this may affect the total amount of taxes due on a transaction. 
  
  Related Information: 
  For more information about setting up and using additional tax in SAP FI, please refer to the SAP Help documentation. Additionally, there are many online resources available that provide detailed instructions on how to set up and use additional tax in SAP FI.